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Reinsurance and Insurance Loss Reserves (Tables)

3 Months Ended

Jul. 01, 2023

The effects of reinsurance on premiums written and earned were as follows (in thousands):










	Three Months Ended
	July 1, 2023				July 2, 2022
	Written		Earned		Written		Earned
Direct premiums	$	10,379	$	8,676	$	7,728	$	7,050
Assumed premiums—nonaffiliated	9,800		8,570		9,028		7,957
Ceded premiums—nonaffiliated	(6,127)		(6,127)		(4,229)		(4,229)
	$	14,052	$	11,119	$	12,527	$	10,778

Loss Reserve Rollforward

Standard Casualty establishes reserves for claims and claims expense on reported and incurred but not reported ("IBNR") claims of non-reinsured losses. Reserves for claims are included in the Accrued expenses and other current liabilities line item on the Consolidated Balance Sheets and claims expenses are recorded in Cost of sales on the Consolidated Statements of Comprehensive Income. The following details the activity in the reserve for the three months ended July 1, 2023 and July 2, 2022 (in thousands):


	Three Months Ended
		July 1, 2023		July 2, 2022
Balance at beginning of period		$	10,939	$	8,149
Net incurred losses during the period		11,077		8,777
Net claim payments during the period		(9,015)		(8,352)
Balance at end of period		$	13,001	$	8,574